required: a.Calculate the gross profit or loss made if the selling price of the dress is $15 each. b. Calculate the amount of closing stock. please answer this question I need a help on this.
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![Daven and Company sells saffron dresses. The
following transactions took place during the
month.
June 1 Balance 10 dress at $20 each
8 Purchases 15 dress at $8 each
10 Sold 12 dresses
19 Purchased 25 dresses at $10 each
22 Sold 15 dresses
26 Purchased 35 dresses at $9 each
30 Sold 20 dresses
Required](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F52d65903-a832-4b7b-9aa7-a1fe333bc047%2Febfb808c-3ac6-4146-b12d-efbc528e31bf%2Fh63q07o_processed.jpeg&w=3840&q=75)
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- II. Direction: Solve the following problems using horizontal and vertical analysis. Write the answer on the second column. Determine the technique used in solving the problem whether horizontal, or vertical or mixed. Write the answer on the third column. Show solutions in a separate sheet of раper. What technique is used Problem Answer 1. A company has a total liabilities of P65,000 and owner's equity of P35,000. What is the percentage of equity to total assets? 2. The total owner's equity for 2018 is P175,000 and for 2019 is P235,500, what is the percentage of increase or decrease of owner's equity? 3. If the current assets are P75,000 and the total assets are P300,000, what is the percentage of noncurrent assets? 4. Long-term liabilities are P150,000 which is equivalent to 50% of the total liabilities, the owners equity is 40% of the total assets, how much would be the total assets? 5. The total sales this year is P1,200,000, which resulted from an increase in sales for 10%. How much…The 2021 income statement of Adrian Express reports sales of $19,310,000, cost of goods sold of $12,250,000, and net income of $1,700,000. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash Accounts receivable Inventory Long-term assets $ 700,000 1,600,000 2,000,000 4,900,000 $9,200,000 $860,000 1,100,000 1,500,000 4,340,000 Total assets $7,800,000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings $1,920,000 $1,760,000 2,500,000 1,900,000 1,640,000 $7,800,000 2,400,000 1,900,000 2,980,000 Total liabilities and stockholders' equity $9,200,000 Industry averages for the following profitability ratios are as follows: Gross profit ratio Return on assets Profit margin 45% 25% 15% 2.5times 35% Asset turnover Return on equityNEED ANSWER ASAP Q: USING THE BALANCE SHEET PROVIDED, WHAT IS THE AVERAGE OWNER'S EQUITY? EXPLAIN
- Required Prepare a vertical analysis of both the balance sheets and income statements for Year 4 and Year 3. Complete this question by entering your answers in the tabs below. Analysis Bal Sheet Analysis Inc Stmt Prepare a vertical analysis of an income statements for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) ALLENDALE COMPANY Vertical Analysis of Income Statements Year 4 Year 3 Amount % Total Amount % Total Revenues Sales (net) $ 230,000 100.00 % $ 210,000 100.00 % Other revenues 8,000 5,000 Total revenues 238,000 215,000 Expenses Cost of goods sold 120,000 103,000 Selling, general, and administrative expense 55,000 50,000 Interest expense 8,000 7,200 Income tax expense 23,000 22,000 Total expenses 206,000 182,200 Net income $ 32,000 % $ 32,800 %Consider the streams of income given in the following table: a. Find the present value of each income stream, using a discount rate of 4%, then repeat those calculations using a discount rate of 8%. b. Compare the calculated present values and discuss them in light of the fact that the undiscounted total income amounts to $14,000 in each case. a. The present value of income stream A. using a discount rate of 4% is §. (Round to the nearest cent) Data table Income Stream End of Year A $5,000 $4,000 $3,000 $2,000 $2,000 $3,000 1 $4,000 4 $5,000 Total $14,000 $14,000 (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Clear all Check answer Help rUse the following selected data from Business Solutions's income statement for the three months ended March 31, 2022, and from its March 31, 2022, balance sheet to complete the requirements. Computer services revenue Net sales (of goods) Total sales and revenue Cost of goods sold Net income Quick assets Current assets Total assets Current liabilities Total liabilities Total equity Required: 1. Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio. 2. Compute the current ratio and acid-test ratio. 3. Compute the debt ratio and equity ratio. 4. What percent of its assets are current? What percent are long term? Required 1 Required 2 Complete this question by entering your answers in the tabs below. $ 27,275 19,083 46,358 12,572 18,807 89,252 97,520 123,464 Gross margin ratio Net profit main ratio 885 885 122,579 Required 3 Required 4 Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio. Note:…
- I only need the 5b photo question. #2 prepare a single income statement and the analysis component. Thanks!2 Tiger Audio declared and paid a cash dividend of $7,925 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Current Previous Income Statement $342,000 $281,000 175,650 166,350 63,600 6,400 96,350 28,905 Sales Revenue Cost of Goods Sold 159,000 122,000 52,930 5,670 63,400 19,020 Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income $ 67,445 $ 44,380 Balance Sheet $ 72,520 32,900 49,000 151,000 $305,420 $ 45, 200 28,000 46,000 138, 200 Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets $257,400 $ 39,000 4,800 101,900 145,700 39,400 120,320 $ 37,000 4,000 116, 200 157, 200 39,400 60,800 Accounts Payable Income Tax Payable Note Payable (long-term) Total Liabilities Common Stock (par $1) Retained Earnings Total Liabilities and Stockholders' Equity $305,420 $257,400Complete this question by entering your answers in the tabs below. Analysis Analysis Bal Sheet Inc Stmt Prepare a vertical analysis of an income statements for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) Revenues Sales (net) Other revenues Total revenues Expenses Cost of goods sold FANNING COMPANY Vertical Analysis of Income Statements Year 4 Selling, general, and administrative expense Interest expense Income tax expense Total expenses Net income Amount $ 231,900 9,300 241,200 118,800 54,200 6,800 22,800 202,600 $ 38,600 Percentage of Total Analysis Bal Sheet % % Year 3 Amount $ 211,200 6,400 217,600 102,100 49,100 6,000 21,800 179,000 $ Percentage of Total % % 38,600 Analysis Inc Stmt > Show less
- Assume that the expected value method determines a transaction price of $60,000 and most likely amount method determines a transaction price of $50,000. What effect will recording revenue based on the expected value method have relative to the most likely amount method? A.)Revenue will be higher and expenses will be higher B.) Revenue will be higher and expenses are unaffected C.) Revenue will be lower and expenses will be lower D.) Revenue will be lower and expenses are unaffected E.) Revenue and expenses will be the sameSome recent financial statements for Smolira Golf, Incorporated, follow. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Cost of goods sold Depreciation EBIT Interest paid Taxable income Taxes 2021 SMOLIRA GOLF, INCORPORATED 2022 Income Statement Net income Dividends Retained earnings $ 6,358 9,248 14,580 $ 30,186 $ 90,361 $ 120,547 Balance Sheets as 2022 $ 16,000 26,459 SMOLIRA GOLF, INCORPORATED of December 31, 2021 and 2022 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Other $ 7,866 11,445 29,641 $ 48,952 $ 107,206 $ 156,158 287,318 220, 396 10,913 $ 56,009 2,264 $ 53,745 11, 286 $ 42,459 Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity 2021 $ 4,880 3,959 198 $ 9,037 $ 32,100 $ 40,000 39,410 $ 79,410 $ 120,547 2022 $ 5,381 4,479 429 $ 10,289 $ 40,000 $ 40,000 65,869 $ 105,869 $ 156, 158Calculate the basic earnings power. (Round your answer to 2 decimal places.) Basic earnings power Calculate the return on assets. (Round your answer to 2 decimal places.) Return on assets % Return on equity % Calculate the return on equity. (Round your answer to 2 decimal places.) % Calculate the dividend payout. (Round your answer to 2 decimal places.)
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